Get Ks Short Sale Addendum
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How to fill out the KS Short Sale Addendum online
The Kansas Short Sale Addendum is a vital document in real estate transactions, particularly when properties are sold for less than the amount owed. This guide provides clear and supportive instructions on how to fill out this addendum online, ensuring clarity and compliance for both buyers and sellers.
Follow the steps to successfully complete the KS Short Sale Addendum online.
- Press the ‘Get Form’ button to obtain the addendum and open it in your online editor.
- In section I, fill in the date of the Purchase Agreement, the names of the Seller and Buyer, and the property address, including the city and state.
- Move to section II. Here, the Seller must indicate how many days they will need to obtain written consent from their creditor(s). Fill in the blank provided with the appropriate number of days.
- Proceed to section III, which outlines the termination rights of the Buyer. This section is informational and does not require any input, but it is essential to understand these rights.
- In section IV, be aware that the obligations outlined in the original Agreement will start counting from the date the Buyer receives the creditor(s) written consent.
- Review section V, which explains the Seller’s right to market the property and accept other offers. No input is required here, but it is crucial to be informed about potential other offers.
- In section VI, verify the Closing Date. Fill in the blank with the appropriate number of days from the date the Buyer is notified of creditor(s) written consent, if applicable.
- Finally, sign and print names for both parties in the designated spaces at the bottom of the form. Ensure to include the date for each signature.
Complete your documents online today for a smoother transaction process.
Yes, a seller can back out of a short sale, even after a KS Short Sale Addendum has been drafted. However, this decision can have legal and financial implications, so it is vital to consider these factors carefully. A seller should consult with a real estate professional to understand the consequences of backing out. Making informed decisions will help you navigate the complexities of short sales.
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